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Investors eye outer Melbourne as market heats up

As Melbourne property prices take off and auction clearance rates break records, investors are predominantly turning to the outer suburbs for higher rent yields and growth prospects.

Melbourne homes near CBD
While much of the buying activity has been on Melbourne's outskirts, there has also been considerable price growth in high-end near-city locations. Photo: Shutterstock

As Melbourne property prices take off and auction clearance rates break records, investors are predominantly turning to the outer suburbs for higher rent yields and growth prospects.

Outer suburbs are proving to be the most attractive areas of Melbourne for investors and owner-occupiers alike, while for those with the big budgets some inner city hotspots have emerged since the worst of the COVID period. 

But a fragile rental market offering rel…